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With reductions in incomes due to Coronavirus, individuals who were previously earning too much to claim Child Benefit might now qualify, easing pressure on household budgets.

Due to the coronavirus pandemic, HMRC will agree that employees working from home, as a result of business premises being closed, will become eligible to claim a homeworking allowance tax free.

The HMRC have officially opened their job retention scheme today. In advance of the opening, the Government announced some important changes:

To claim, you will need: your ePAYE reference number, the number of employees being furloughed, the claim period, amount claimed, bank details and more…

Michael Chadwick, founding Director at Chadwick & Company, gives details about a business rates holiday now available to companies.

The Government have announced measures to support the estimated 5 million self employed people in the UK. This covers all sole traders and partnerships.

Here is a brief outline of two Government measures for VAT and Income Tax deferral, as they stand currently, to help small businesses in the wake of the lock-down and a decrease in their operations.

The Association of Chartered Certified Accountants (ACCA) have produced a helpful document which includes further details about the Government’s Job Retention Scheme.

In response to the Covid-19 outbreak, the Government has announced that companies have an additional three months to file their accounts at Companies House.

Here is a summary of Government support for small businesses, including financial measures and concessions to assist in keeping small businesses afloat.